Original Bemand Schedule Suits sold (by hr) Price Margina Cost quot;gggggg 45M com M 9: OJ 0-1 Total (Larger Mary – Smaller Allerage Marginal…
$4.50
It is required that I find the new price for a bathing suit. I’ve reasoned that the new price will be at a quantity of 7 suits per hour at 13.50 due to the fact that the average cost curve must intersect with the marginal cost curve. Marginal cost must be above average total cost to maintain efficient competitiveness.
I did calculate the new total revenue, average revenue, and marginal cost for each level of sales from the updated demand schedule which is listed below:Original Bemand Schedule Suits sold (by hr) Price Margina Cost
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